As more players enter the spine robotics market, Keith Pfeil, CEO of Globus Medical is confident alongside larger competition, according to a first-quarter earnings call.
Globus Medical had a strong first quarter with net sales growing 27% year over year, and the enabling technology segment saw $26.87 million.
Mr. Pfeil said he still felt the company was well-positioned in the robotic field. The Excelsius line of robots has FDA clearance for cranial, cervical, sacrum, pelvic, and orthopedic applications, with end effector tracking, he said.
“As I think about the competitive landscape, what I see is we are competing mainly against Medtronic,” Mr. Pfeil said, as transcribed by The Motley Fool. “Obviously, as more competitors have entered the space, I would say that the speed to closing deals has elongated a bit because hospitals are now requiring everyone to go back and look at all the competitive offerings that are out there. But when I sit and look at Excelsius versus the competition, I still think we are very well positioned … Even with some of the things that our competitors have come out with, they are really now just catching up to where Excelsius has been.”
As of the May 7 earnings call, Globus Medical has seen nearly 130,000 robotic procedures, Mr. Pfeil said.
Thinking ahead the future of the Excelsius platform, Mr. Pfeil said software will be the next big step.
“As I think about the evolution of Excelsius, it truly comes down to more refined software and how the software performs in the OR,” Mr. Pfeil said. “I think about interbody fusion, DuraPro, integrating DuraPro, and additional cranial procedures.”
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